RelianceCMP 2677
Elliott- the ABC correction is a zig zag. The C wave is always the sharpest and in my view it is complete.
Fib- its at 38.2% Fib retracement of its recent swing lows. This means strength.
Trendline- support at the fib support is telling me this correction is over.
Oscillators- now we need reversal signals from the oscillators for confirmation.
Conclusion - though we still dont have a reversal signal in my view this is a high prob reversal zone.
Elliott- the ABC correction is a zig zag. The C wave is always the sharpest and in my view it is complete.
Fib- its at 38.2% Fib retracement of its recent swing lows. This means strength.
Trendline- support at the fib support is telling me this correction is over.
Oscillators- now we need reversal signals from the oscillators for confirmation.
Conclusion - though we still dont have a reversal signal in my view this is a high prob reversal zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.